http://citylimits.org/2015/10/20/stuy-town-deals-affordable-housing-is-barely-so/
"City Hall just released details of the deal. Another 1,400 apartments that were going to lose all rent protections in 2020 will get another five years of such protection with rent hikes capped at 5 percent per year. And the administration notes that some market rents in the complex were as high as $10,000 a month. By that measure, $3,200 is a bargain."
If true, this means that the "base rent" of some apartments may have gone up 10K per month, an astonishingly high number. My assumption is that no tenant is currently paying that much, but rather a far lower "preferential rent," but this info is still troubling, as it indicates the success Tishman-Speyer and CWCapital have had in raising the base rents of MR units.
32 comments:
Success in DHCR allowing a First Rent scam, in DOB allowing inflated renovations of thousands of apartments, in Cuomo run agencies increasing rents illogically and impossibly and likely illegally and fraudulently. It is mathematically impossible to have legally achieved this.
Either he lied or he failed.
Never voting for him again for anything!
http://bradhoylman.com/2012/08/13/brad-hoylman-announces-agenda-for-stuyvesant-townpeter-cooper-village/
New York, NY – Brad Hoylman, Democratic candidate for the new 27th State Senate District containing Stuyvesant Town and Peter Cooper Village, announced today an agenda for a future for the Stuyvesant Town/Peter Cooper Village (ST/PCV) community that respects the rights of the long-time tenants who call it their home.
ST/PCV must remain affordable, middle-class housing for its residents, Hoylman declared. The property must be properly maintained, and adequate funds must be set aside to do so. And the historical configuration of the property, including all of its open spaces, must be preserved. Hoylman supports the ST/PCV Tenants Association’s work in developing a solid plan with a reputable partner that respects these guiding principles, and as a State Senator will lend his voice and influence to their cause. In the meantime, quality of life should not suffer even in the absence of a deal, so Hoylman will fight to ensure that CW Capital and Rose Associates fulfill their responsibilities to maintain the property, and that they stop block rentals to students. To help oversee these efforts, Hoylman also pledges to have a dedicated staffer focused specifically on serving the needs of the residents of ST/PCV.
Well, many politicians failed in the endeavor to keep STPCV truly affordable for all. And it's not just the local politicians.
DEAR HILARY CLINTON AND YOUR LIST OF 100 POLITICIAN AND "LOBBYIST" COUNCIL
THIS IS ON YOUR WATCH.
YOU ALL ALLOWED AND EMPOWERED THE WEALTHY BILLIONAIRES, GLOBAL REAL ESTATE BEHOMETH AND FOREIGN INVESTORS TO RUIN THE AMERICAN WORKING CLASS PETER COOPER VILLAGE STUYVESANT TOWN COMMUNITY THAT EXISTED LESS THAN 10 YEARS AGO. BUT IS NO MORE. BECAUSE OF YOU AND YOUR POLICIES AND HYOUR HUSBAND'S POLICIES AND ALL THE DAMAGE YOU ALLOWED CUOMO TO DO WHILE AT HUD.
THE DEMISE OF PETER COOPER VILLAGE STUYVESANT TOWN IS ON YOUR WATCH.
CUOMO'S QUOTE IS PRICELESS GARBAGE
Governor Andrew Cuomo, an early endorser of Clinton's 2016 presidential bid. “Hillary’s record as a tireless fighter for middle class families, civil rights, and putting people over special interests make it clear that she will be a president who moves New York and our country forward.”
HILARY CLINTON'S COUNCIL:
Governor Andrew M. Cuomo
· Lieutenant Governor Kathy Hochul
· State Comptroller Thomas P. DiNapoli
· Attorney General Eric T. Schneiderman
· US Senator Charles E. Schumer
· US Senator Kirsten Gillibrand
· US Representative Yvette Clarke
· US Representative Joseph Crowley
· US Representative Eliot Engel
· US Representative Brian Higgins
· US Representative Steve Israel
· US Representative Hakeem Jeffries
· US Representative Nita Lowey
· US Representative Carolyn Maloney
· US Representative Sean Patrick Maloney
· US Representative Gregory Meeks
· US Representative Grace Meng
· US Representative Jerrold Nadler
· US Representative Charles B. Rangel
· US Representative Kathleen Rice
· US Representative Jose Serrano
· US Representative Louise Slaughter
· US Representative Paul Tonko
· US Representative Nydia Velazquez
· State Senator Andrea Stewart-Cousins, Democratic Leader
· State Senator Michael Gianaris, Deputy Democratic Leader
· State Assemblyman Carl Heastie, Speaker
· State Assemblywoman Earlene Hooper, Deputy Speaker
· State Assemblyman Joseph Morelle, Majority Leader
· State Assemblyman Herman "Denny" Farrell, DNC
· State Assemblyman Keith L.T. Wright, New York County Democratic Chair
· State Assemblyman Marcos Crespo, Bronx County Democratic Chair
· State Assemblyman N. Nick Perry, Black & Puerto Rican Caucus Chair
· State Assemblywoman Annette Robinson
· State Assemblyman David Buchwald
· State Assemblywoman JoAnne Simon
· State Assemblyman Phil Ramos
PART 2
· New York City Public Advocate Letitia "Tish" James
· New York City Comptroller Scott Stringer
· New York City Speaker Melissa Mark-Viverito
· City Council Member Stephen Levin
· City Council Member Margaret Chin
· Bronx Borough President Ruben Diaz Jr.
PART 3
· Manhattan Borough President Gale Brewer
· Queens Borough President Melinda Katz
· Erie County Executive Mark Poloncarz
· Suffolk County Executive Steve Bellone
· Ulster County Executive Mike Hein
· Buffalo Mayor Byron Brown
· Syracuse Mayor Stephanie Miner, DNC
· Rochester Mayor Lovely Warren
· Albany Mayor Kathy Sheehan
· Hempstead Mayor Wayne Hall Sr.
· Ithaca Mayor Svante Myrick
· Town of Babylon Supervisor Rich Schaffer, Suffolk County Democratic Chair
· Town of Huntington Supervisor Frank Petrone
· Town of North Hempstead Supervisor Judi Bosworth
· Nassau County Legislator Kevan Abrahams, Minority Leader
· Town of Hempstead Councilwoman Dorothy Goosby
· Town of North Hempstead Councilwoman Lee Seeman
· David N. Dinkins, 106th Mayor, City of New York
· Carolyn McCarthy, Former US Representative
· Timothy Bishop, Former US Representative
· Jerry Jennings, Former Mayor of Albany
· Christine Quinn, Former New York City Council Speaker
· Reverend Floyd H. Flake, Greater Allen AME Cathedral
· Reverend Dr. Calvin O. Butts, Abyssinian Baptist Church
· Michael Mulgrew, President, UFT
· Karen Magee, President, NYSUT
· Gary LaBarbera, President, Building & Construction Trades Council of Greater New York
· Greg Lancette, President, Central-Northern New York Building & Construction Trades Council
· Steve McInnis, President, NYC District Council of Carpenters
· George Miranda, President, Teamsters Joint Council 16
· Henry Garrido, Executive Director, District Council 37
· Ernest Logan, President, Council of Supervisors & Administrators
· Fran Turner, Political Director, CSEA
· DaVon Lomax, Political Director, District Council 9 New York IUPAT
· Ron Warner, International Association of Machinists
· Carlo Scissura, President & CEO, Brooklyn Chamber of Commerce
· Professor Rhea Jezer, Ph. D., Symposium on Energy in the 21st Century
· David Kilmnick, CEO, Equality Long Island
· Brette McSweeney, Eleanor's Legacy
· Hazel Dukes, NYS NAACP
· Tonio Burgos, DNC
· Maria Cuomo Cole, DNC
· Sheila Comar, DNC, Washington County Democratic Chair
· Jennifer Cunningham, DNC
· Barbaralee Diamonstein Spielvogel, DNC
· Emily Giske, DNC
· Jay Jacobs, DNC, Nassau County Democratic Chair
· Sarah Kovner, DNC
· Dennis Rivera, DNC
· Gerry Sweeney, DNC
· Robert Zimmerman, DNC
· Judith Hope, Former Chair, New York State Democratic Committee
· Trudy L. Mason, Vice Chair, New York State Democratic Committee
· Frank Seddio, Kings County Democratic Chair
· Jeremy Zellner, Erie County Democratic Chair
· Reginald Lafayette, Westchester County Democratic Chair
· Marvin Brance McMoore
· Michael Corbett
· Bryan Ball, President, Western NY Stonewall Democrats
· Kevin Law
· Silda Wall Spitzer
· Suzy Ballantyne
· Heather Beaudoin
· Bertha Lewis
· Jerry H. Goldfeder
· Patrick Jenkins
· David Pollak
· Jack Mannion
· Ramon Martinez
· Tracey Brooks
· Leecia Eve
· Karen Persichilli Keogh
· Cathy Calhoun
· Resi Cooper
· Christine Falvo
· Robin Chappelle Golston ###
http://www.capitalnewyork.com/article/albany/2015/10/8580740/clintons-new-york-team-includes-more-100-leaders-no-de-blasio
"If true, this means that the "base rent" of some apartments may have gone up 10K per month, an astonishingly high number."
I can see this rent at one of the 7 room (5 bedrooms)Stuy Town Apartments. At the TA FB page, 8/11/14 (the first of several threads), a woman told the horror story of how one of these apartments was turned into a NYU frat house, endless noise complaints, parties every weekend* and when they left, they trashed the hallways and just left their garbage everywhere. Let’s say the $10,000 was the legal rent, I can see a preferential rate of around $8,000 to $9,0000 (?) that can be easily paid when it’s split between 6,7,8,(?),who knows how many, parental funded NYU Bros and OMGs living there.
*"I am curious to know what STPCVs policy is on renting to Fraternities. I just did some research and I have been able to confirm that the guys that are renting the 5 bedroom apartment at 530 East 20th Street are members of the Zeta Psi fraternity at NYU. There is one girl who lives with them who is more than likely a member of the Zeta Psi sorority. I know this apartment isn't one of the official NYU "dorms" but obviously it is full of NYU students. I also know that there's a limit to the number of non-related people that can share an apartment. I want to try to get these guys out of here because it's nothing but parties every weekend and the pot smoke is all over the halls and has been seeping into my apartment. Security has actually been good about keeping on top of them but I guess there's only so much they can do if management won't step in."
Not to spread rumors, but .......
I've heard from people in the complex that some apartments are currently being converted into duplexes -- the reason behind this I'm assuming is that, in PCV, for example, they feel they can get more for a 4BR/4BA than two separate 2BR/2BAs.
HA! Starbucks is applying for liquor license in NY
http://www.newsday.com/business/four-starbucks-on-li-have-applied-for-liquor-licenses-1.11010929
Calling a Blackstone deal tenant friendly without addressing the Preferential Rent Loophole is utter malfeasance on the part of the TA and City Hall. For shame.
my god. folks, you don't get it yet. 18 months ago deblasio announced alicia glen would have a deal for us in 3 months. over a year later a deal is whipped on us. does this feel like the politicians ever had a hand to play? in order to help get a good deal, the city would have to play hardball. really tough hard ball. half these guys are in the pockets of real estate. was no one listening when donald trump told everyone how the game is played? these politicians let us down. the ta meeting was nothing more than applying lipstick to a pig. you know who made out the best in this deal? The primary lenders, freddie mac and fannie mae & CW. 5.3B!!! .6B more than was ever mentioned. setting conditions ala Chuck schumer certainly didn't hurt freddie and fannie one bit. how did that happen???
now, let me ask...why are the roberts people getting special treatment? why are they different than other MRs?
From Crains: "A tale of two Stuy Towns, with much different endings"
http://www.crainsnewyork.com/article/20151026/REAL_ESTATE/151029903/a-tale-of-two-stuy-towns-with-much-different-endings
>>I want to try to get these guys out of here because it's nothing but parties every weekend and the pot smoke is all over the halls and has been seeping into my apartment.<<
More than 3 unrelated people then something will have to give.
>>DEAR HILARY CLINTON AND YOUR LIST OF 100 POLITICIAN AND "LOBBYIST" COUNCIL<<
I'm not a Hillary fan, but I fail to see the connection between what is going on here in STPCV and her (though she was senator for a while).
http://www.bloomberg.com/politics/articles/2015-07-16/blackstone-dealmakers-line-up-for-clinton-in-money-race
http://www.bloomberg.com/politics/trackers/2015-10-21/blackstone-president-tony-james-reiterates-support-for-clinton
“I am supporting Hillary for the election,” Tony James, Blackstone Group LP’s billionaire president, says on Bloomberg Television about Hillary Clinton’s bid for the presidency; “she’ll be a good president.”
Hilary Clinton has everything to do with the deal here and everywhere Blackstone is a landlord for American citizens.
From the emails, we learned that Clinton asked her aides to help obtain a visa for an individual at the request of Blackstone executives. Records show that Blackstone gave between $250,000 and $500,000 to the Clinton Foundation.
http://www.foxnews.com/opinion/2015/07/07/hillary-clinton-why-her-worst-enemy-is-not-republican.html
Hilary is campaigning on Cuomo's words as a tireless fighter for middle class (which with the current failed condition of the middle class I would say all the tireless fighters are tired - and we need new fighters) and at the same time takes a quarter of a million dollars from Blackstone to do them a favor using her government office to do them a favor and get a visa, it shows what we can expect from her as President. All those local and state politicians supporting her who are not raising the same issue, are not tireless fighters for the middle class.
Does anyone believe any of these politicians are tireless fighters for us?
Hilary Clinton has everything to do with the deal here and with our future. It does not look good for us. It looks good for these guys:
http://www.bloomberg.com/politics/articles/2015-07-02/wall-street-s-hillary-clinton-e-mails-take-a-different-tone-towards-financiers
Call 13th Pct when the stench of weed is overbearing. Better yet, write a letter directly to Commissioner Bratton. The stench of pot is extremely bad for anybody with asthma, allergies or any kind of respiratory problems. It is more carcinogenic than tobacco. Children should not have to be exposed to it. Contact the Police Dept and the Dept of Health. We have a right NOT to have that stench entering our apartments.
Let's take a look at what happened from the perspective of the winners.
Before the deal, here's what everyone needed:
1. Freddie Mac & Fannie Mae: needed to recover from a disastrous investment
2. Schumer: up for re-election, may become senate leader. Needed to show he's doing something for us
3. deBlasio: needed to show he's delivering on affordability
4. Garodnick and the TA: needed to show something for all the noise they made here over the past 3 yrs
After the deal:
1. Freddie Mac & Fannie Mae have more than recovered. They're rolling in it.
2. Schumer gets to claim he did something
3. deBlasio gets to make his bogus claim about 5000 units
4. Garodnick and TA claim they gave important community feedback to make this great deal happen.
Would we ever truly think that Schumer and Maloney would support a deal where Freddie and Fannie wouldn't get back every penny of that bad investment if not more?
You see...we never really had a chance.
In the end everything for Schunmer, deBlasio, Garodnick and the TA depended on them selling the community on this being a great deal...which of course it isn't.
But we see how the game is played. It's a high stakes game to be sure. Have no doubt. And having paid top dollar, Blackstone will be doing everything it can to make a fantastic profit.
I would think the connection is that there is a pay to play culture with these incumbent career politicians that is killing communities and citizens.
>>DEAR HILARY CLINTON AND YOUR LIST OF 100 POLITICIAN AND "LOBBYIST" COUNCIL<<
I will never again vote for Ithaca Mayor Svante Myrick helping Hilary destroy our PCVST homes!
Speaking of quality of life issues, Chipotle is asking for a liquor license for its new location in Stuy Town. The Communty Board 6 meeting is this Thursday. Oct 29th at 7PM in Bellevue. Lots of college kids will be piling into Chipotle all night, much like the location on 23rd St which is a zoo at night. This will create noise and bring more litter, mice, rats and drunks into StuyTown since Chipotle serves both Margaritas and beer. If you want to oppose the liquor license contact the Community Board today or show up at the meeting this Thursday:
Business Affairs & Street Activities Committee
When: Thursday, October 29, 2015 - 7:00 pm
Where: Bellevue Hospital Center, 462 1st Ave, NY, NY, 10016
Old Medical Library - 8th Fl.
AGENDA
9i. New OP Liq. Lic, Chipotle Mexican Grill of Colorado, LLC dba Chipotle Mexican Grill,
286 1st Ave @E. 17th St. Reso.
If you can't attend the meeting, here is the CB6 contact information. Even a few people opposing a liquor license on valid grounds is enough for the board to oppose it. The final decision then goes to the State Liquor Authority, but they use the recommendations of the Community Board to guide their decisions.
Community Board Six Manhattan
866 United Nations Plaza, Suite 308
New York, NY 10017
Telephone: 212-319-3750
Fax: 212-319-3772
Email: office@cbsix.org
>>If you want to oppose the liquor license contact the Community Board today or show up at the meeting this Thursday:<<
Thank you for the alert and info.
Everyone on Hilary Clinton's list of NY politicians wheeled and deal-ed exchanging favors for each others district's business deals. Politician's outside our district supported Dan's plan, telling us if we want to buy our apartments we have to keep quiet about anything the DOB (and DHCR) are doing so we did, we kept quiet.
In New York all the evidence shows:
Affordable housing is going away
Rents are going up sky high
Nobody in the middle class or working class have been able to buy a house so they are renting and Blackstone is buying up all the rentals
To understand why and how you need only look at
Who the Governor put as Chairman of the Housing Finance Agency and the State of New York Mortgage Agency to lead the state in its recovery from the recent housing crisis who also oversees the operations of the state’s Affordable Housing Corporation (AHC)
That is Bill Murrow - since 2012
billmulrow.blogspot.com, a Blogger site that strangely consists of nothing but posts about how awesome Bill Mulrow is, allegedly authored by “Bill Mulrow,” but that consistently refers to Bill Mulrow in the third person. No, we’re not even making that up.)
http://billmulrow.blogspot.com/
10:41am, what is your proof for what you say?
>>Affordable housing is going away
Rents are going up sky high
Nobody in the middle class or working class have been able to buy a house so they are renting and Blackstone is buying up all the rentals<<
Blackstone has not been secretive about this, too. That is why the company is focusing on rental properties, including us.
Yep - read about Invitation Homes. They're a Blackstone company that is buying tens of thousands of homes for cheap, in cash (foreclosures and others) in vulnerable areas and then renting them out. This action thereby prevents the struggling and hard-working families in these distressed areas from purchasing a home. This is just as terrible as the last housing bubble if you ask me.
http://www.tampabay.com/news/business/realestate/blackstone-to-buy-1-billion-worth-of-tampa-bay-homes-for-rentals/1252624
October 28, 2015 at 8:28 AM We can thank Cuomo and Schneiderman for this - they ran the deal.
8 28 I was also thinking this last week - Corporations buying up housing for rentals - No wonder the average family g=can't afford or find one.
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